The Nigerian Customs Service (NCS) has declared a three-month period for the regularization of import duties for certain vehicle categories improperly imported into the country.
The initiative is being undertaken following instructions from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
According to a press release by the Customs’ spokesperson, Abdullahi Maiwada, on Sunday, this measure is targeted specifically at vehicles brought into Nigeria without the proper customs duties paid or those impounded for being undervalued.
The statement reads,
- “In a proactive move to enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Honourable Minister of Finance and Coordinating Minister of the Economy, is pleased to announce a 90-day window for regularizing import duties on specific categories of vehicles.
- “This initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
- “While we strive for inclusivity, it is important to clarify that vehicles seized and condemned will not be released under this arrangement and shall be forfeited to the Federal Government in accordance with extant regulations.”
The NCS has directed that owner of these vehicles, as well as Importers/Agents looking to rectify their vehicles’ import duties status, should reach out to the Zonal Coordinators (Zones A, B, C, D) and the CAC FCT Command.
To comply, they are required to present all relevant documents and complete the Vreg process according to the Federal Ministry of Finance’s regulations concerning the registration of imported vehicles.
VIN valuation method to be used for assessing cars
Furthermore, the service noted that the VIN valuation method will be deployed for valuation and assessment of the vehicles in question and import duty as well as 25% penalty will be paid in line with the import guidelines and requirements.
- It stated, “Valuation and assessment of the vehicles will be carried out using the VIN valuation method. Import Duty and a 25% penalty shall be paid in tandem with the import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023. Also, duty payments must be made using the Procedure Code specifically created for this exercise.”
